Economic Policy council forwards draft on bank recapitalisation
The Economic Policy Government Council approved the draft act of law that sets out the process of banks’ recapitalisation, at a meeting late on Sunday.
The act will be forwarded to the cabinet and issued by today (Monday), according to an announcement by the office of the government vice president.
The draft outlines the options related to the role of the Hellenic Financial Stability Fund in the capital injection (depending on whether there is private participation or not) and in terms of the Greek state’s preference shares.
Following this announcement, the government called on the management of all four systemic banks to expend any effort to encourage and secure the participation of domestic investors during the process of recapitalisation.
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